Plains GP Holdings, L.P. (NYSE:PAGP) Receives $19.88 Average PT from Brokerages

Shares of Plains GP Holdings, L.P. (NYSE:PAGP) have been given an average recommendation of “Hold” by the nine analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $19.88.

Several analysts recently commented on PAGP shares. StockNews.com raised shares of Plains GP from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company downgraded shares of Plains GP from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Wolfe Research raised Plains GP to a “hold” rating in a research report on Wednesday, September 18th. Finally, Morgan Stanley lowered Plains GP from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th.

Plains GP Stock Performance

Shares of PAGP stock opened at $18.78 on Wednesday. The company’s fifty day moving average price is $18.67 and its 200-day moving average price is $18.78. The stock has a market cap of $3.71 billion, a PE ratio of 22.09 and a beta of 1.58. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Plains GP has a 12 month low of $15.78 and a 12 month high of $20.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new stake in Plains GP in the third quarter valued at approximately $57,000. Eastern Bank purchased a new position in shares of Plains GP during the 3rd quarter valued at approximately $76,000. Continuum Advisory LLC grew its stake in Plains GP by 10.0% in the 3rd quarter. Continuum Advisory LLC now owns 6,990 shares of the pipeline company’s stock valued at $127,000 after acquiring an additional 637 shares during the period. Insigneo Advisory Services LLC purchased a new stake in Plains GP in the 3rd quarter worth $188,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in Plains GP during the third quarter worth $200,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Plains GP Company Profile

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the gathering and transporting crude oil and NGLs using pipelines, gathering systems, and trucks.